Field Assistance Bulletin 2014-01
The DOL has come out with new guidance and recommendations regarding fiduciary duties and missing participants involving terminated defined contribution plans. Read our article to learn how this updated FAB guidance will affect TPA and plan sponsor options concerning missing participant searches and asset distributions.
Click here for our article summarizing the impact of Field Assistance Bulletin 2014-01 on TPAs and Plan Sponsors. This quick overview makes a great value-added piece to share with colleagues and clients.
For more information, call one of our sales representatives or our call center on (800) 541 3938
PenChecks Trust Company of America (PenChecks Trust) is a statechartered, non-depository trust company and the largest independent provider of outsourced benefit distribution services and Default/Missing Participant IRAs in the country. With 20 years in business, PenChecks Trust is an expert and industry-leading provider of unique and comprehensive solutions for a myriad of trust resolution issues. Services include automated and branded solutions for benefit payment processing, uncashed/stale dated checks, Abandoned Plan/QTA services and Taxable Savings Accounts. Customers include financial institutions, third ¬party administrators, plan advisors, and plan sponsors.